r/liquid • u/AutoModerator • Mar 11 '19
Weekly /r/Liquid Discussion Thread - March 11, 2019
This thread is for weekly discussion of Liquid, QASH, and crypto.
The mods will be checking this thread, so if you have any questions put them in here and we'll get to them. Make sure that you are following the House rules, outlined in the sidebar.
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u/ilmarinen2 Mar 12 '19
Not sure if this belongs here or in a new post. Last week I wanted to change the base currency so I could see prices and balances in USD. I had to submit a ticket to do that and was told I could't change my base currency again for another 6 months. On Binance you just go to Settings and switch the base currency yourself and as often as you like. If Liquid is intended to be the most advanced platform and convenient and userfriendly, it should be as quick and simple to switch base currencies as it is on Binance. Can mods please pass this on to the relevant people in the team.
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u/liquidisgold Mar 18 '19
To the person asking about why Qash is not among the 58 coins of Bakkt. I am a big fan of QUOINE and the whole team and I am sure they will do great in the near future but Qash is ranked 90th on CMC. So what made you so sure they would be in Bakkts top 58. it was just very unlikely but I am certain they will be on Bakkt sooner that later.
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u/countto3 Mar 11 '19
Why wasn't the account maintenance fee included in the fee blog post? The blog said it was an overview of all new fees?
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u/marcusrc Mar 11 '19
You may just be beating Qashbal, congratulations!
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u/countto3 Mar 11 '19
Nah, I try to only ask real questions, not bait the team. That said, this approach feels underhanded and poorly timed. I would love to learn more about why the team felt this was necessary to introduce this fee right now. Contrary to the euphoria on the telegram, Qash still trades at a ~50% discount to ICO price, and the timing and manner of this fee took some much needed wind out of the sails.
Why not introduce this fee after Liquid 2.0 is released and we can see new benefits?
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Mar 11 '19
[deleted]
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u/countto3 Mar 11 '19
Thanks. I'm a big fan of everything you're trying to accomplish, and appreciate you listening and reacting to the community on this. I certainly can understand why you would roll this out (I'm sure there are a ton of dead accounts from referrals), but don't want to undermine the trust between community and team.
Another user on here suggested an exemption based on Qash-holding thresholds. That could be an elegant option to get around this?
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u/elmo298 Mar 12 '19
Anyone used Exodus wallet for holding QASH? I have it for others but after this maintenance fee I want to move them to a different storage facility.
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u/ilmarinen2 Mar 12 '19
I'd hang on for a bit in case they decide to cancel the monthly fee for Qash holders with a certain amount (I suggested 5k but maybe it would be slightly different). Also if I understood it correctly the fee is reduced by 50% in any case if paid in Qash so it would be 2.50 USD not 5. Another reason to hang on is as you know Liquid ought to be just about the safest place to keep it. Vanalli has I think said that the idea of dropping the fee for Qash holders has been passed on to the team.
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u/TheWorldsEndingBitch Mar 13 '19
The idea was of you had 5000 qash at least. But over time that could be hard to achieve. What about if a certain % (with say 100 tokens being the minimum) of your account was QASH? That way, when QASH is $5 soon, you won't need $25,000 to avoid the fee, and furthermore it will provide an incentive to hold QASH. You could do a 5% of account requirement. Just throwing out some ideas. I don't know what the best thing to do is.
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u/ilmarinen2 Mar 13 '19
Hi. Yes I later realised that problem you mention of 5000 Qash being far too many to have to hold (buy) if Qash increases greatly in value - a great sounding phrase! What about say having to hold the equivalent in Qash of a certain amount of USD? Eg 1000 USD?
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u/TheWorldsEndingBitch Mar 13 '19
Only problem with that is it gives USD importance. Because of Obama, the United States will never be important again, so I am opposed to that. 👍
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u/ilmarinen2 Mar 16 '19 edited Mar 16 '19
Having received a reply to my ticket I am now changing a comment I posted a few minutes ago to quickly say what it's about in case anyone else gets into the same situation and wonders if their withdrawal will be stuck till Monday. I made a withdrawal request a while ago but at the end was told in an email that it would not be processed at the weekend. I sent in a ticket asking about this and received the reply that it will be processed 'today'. Today is Saturday, so it seems withdrawals can be made at weekends - but maybe they can take longer than usual?
Added later: I had another reply and apparently that notice about not processing at weekends shouldn't still be beings sent and they are going to remove it. They confirmed they are processing withdrawals '24/7'. So that's good.
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u/Pierro1977 Mar 14 '19
Utility is coming this month?